The funding comes as deal count for AI agent startups is up more than 81% over the last year, with more than US$8 billion invested in the space.
Key facts
- AI startup Relevance AI, which launched in 2020, has banked $24 million in its Series B fundraising round, bringing its total funding to $37 million.
- The round was led by US$20 billion San Francisco fund Bessemer Venture Partners, with participation from returning investors King River Capital, Insight Partners, and Peak XV.
- Relevance AI creates AI agents and allows companies to train highly specialised agents that understand more nuanced business processes.
- The funding comes as the company launches two new features: a visual multi-agent system build and what it claims is the world’s first text-to-agent generator to create and deploy teams of AI agents.
Key background
Relevance AI was launched in 2020 by Jacky Koh, Daniel Vassilev and Daniel Palmer as a platform to help businesses build AI workforces of their own.
“Until now, AI has focused on improving individual efficiency,” Koh told Forbes Australia in an earlier interview.
“People are using AI as a co-pilot to help perform small parts of a single task but if we’re to realise the true potential of AI, businesses need teams of AI agents with different specialities that work together to complete complex tasks, autonomously. Our platform is built for the subject-matter expert, with the goal that anyone can train and build their own AI agents to supercharge productivity and ultimately scale quicker,” he said.
Big numbers
$37 million. That’s how much Relevance AI has banked in funding after a $15 million Series A in 2023 and now a $24 million Series B to follow it up. Its most recent round was led by Bessemer Venture Partners, with participation from returning investors King River Capital, Insight Partners, and Peak XV.
40,000. That’s how many AI agents were created on the company’s platform in January 2025. Customers include Roku, Nine and Autodesk.
Crucial quote
“By the end of 2025, companies without an agent builder platform will find themselves at a significant competitive disadvantage.” – Daniel Vassilev, co-founder and co-CEO of Relevance AI.
Who’s out there
A Swedish startup, Sana, is on a similar mission overseas. Founded in 2016 by a 30 Under 30 alum, Sana recently banked US$55 million at a US$500 million valuation to also help companies build their own AI agents. They’re not the only ones: according to Forrester research, there are more than 470 platforms devoted to AI agents across the globe. Forbes reports that deal count for AI agent startups is up more than 81% over the last year, according to PitchBook, with more than $8 billion invested in the space.
Tangent
Google CEO Sundar Pichai reckons we’re in the ‘agentic era’, and AI agents could in fact make existing voice assistants like Siri and Alexa a lot more useful.
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